What role will smart metering systems play in the future?
It has been estimated that the smart meter market is supposed to reach beyond the 8% CAGR growth within 2026, and it has already reached $10bn in 2018.
Smart home appliances backed by smart technologies have come a long way and have made drastic changes in the electric industry. The utility sector has been hit by the digitization with a healthy paradigm shift and completely transformed the way the power and energy sector worked.
Before we move any further, what exactly is a Smart Meter System?
“A Smart Meter is a small electronic device which records the real-time data of the water, electricity, and gas consumption. After collecting the live data, send it across the consumer and the utility service center probably in an hourly update.”
What does the future of smart metering look like?
Smart metering has become the new norm in the field of power management and utility. As you might be aware that the traditional metering system where the data is accumulated from the electrical box unit has now become almost obsolete.
Now let us talk about what role IoT has played in developing a smart metering system.
With IoT making so many advancements, it was only a matter of time that it was implemented across the country. Already there are many government officials worldwide who work extremely closely with research and private organizations that help bring the smart grid to the public eye. Moreover, smart metering has day and again proved to increase the energy efficiency and cut down the operational cost benefiting everyone on a greater level.
Let us dive in a little further and talk about the technologies that are used in smart metering systems.
When talking about these smart metering solutions, two things that play a great role in it is the network connectivity and cellular communication channels as they take care of the safety and smoothly transmit the data over a streamlined system.
There are LTE-M and NB-IoT that help the technologies to improve cellular communication effectively and ensure that there is uninterrupted connectivity throughout.
- Consist of the two-way communication channel
- Helps collect consumers electrical data usage via LAN
- It uses a wide area network, then sends the information to the utility centre
- In response to this, what the utility centre does is that it sends back the primary information regarding the usage stats or blackouts to the consumers’ smart device
- All these smart meter model use a mixed wired and wireless technologies such as,
- HAN – Power line communication, Zigbee, Wi-Fi, Radio Frequency or,
- NAN- Copper or Optical fiber, GPRS or,
- WAN- Cellular, Satellite, and optical fibre
Based on the aforementioned information and all the existing equipment models that are present, one should take in mind the compatibility of adapting the new technology to the current model; whether you are someone who works in a large organisation or small group, these are some of the factors to be considered before deciding on Smart Meter technology.
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